Average Housing Price Across Turkey As Of The End Of August 1 Million 488 Thousand 500 TL!

In August, 123 thousand 491 housing sales took place throughout Turkey. Residential sales across Turkey increased 32% in August compared to the previous month, while 13% decreased compared to the same month of the previous year to 123 thousand 491. According to the technology-oriented real estate valuation platform Endeksa data, the annual value increase in housing sales prices in Turkey as of August was 203%. The average housing square meter sales price in Turkey was 11 thousand 450 TL, the average housing price was 1 million 488 thousand 500 TL and the return period of housing investment was 19 years.

The largest share of Istanbul

Istanbul had the highest share in housing sales in August with 18,485 housing sales and 15%. According to sales numbers, Istanbul was followed by 9,000 736 housing sales and Ankara with 8% share, and Izmir with 6 thousand 395 housing sales and 5% share. According to the index data, as of the end of August, the value increase in housing sales prices in Istanbul was 246%, the average sales price of residential square meters is 19 thousand 537 TL, the average housing price is 2 million 244 thousand 440 TL. Housing prices in Ankara have increased 204% in the last year, the average sales price per square meter is 8 thousand 487 TL, the average housing price is 1 million 103 thousand 310 TL. In Izmir, the annual value increase was 189%, the average housing square meter sales price was 14 thousand 503 TL, and the average housing price was 1 million 885 thousand 390 TL.

The provinces with the highest value increase are Mersin, Istanbul and Antalya

According to the Endeksa data, when the first 30 provinces with the highest residential sales in August were evaluated, the provinces with the highest annual value growth were Mersin, Istanbul and Antalya, respectively. Housing prices in Mersin have increased 253% in the last year, the average sales price per square meter is 10 thousand 498 TL, the average housing sales price is 1 million 522 thousand 210 TL. The annual value increase in Istanbul is 246%, the average housing square meter sales price is 19 thousand 537 TL, the average housing sales price is 2 million 244 thousand 440 TL. Annual value increase in Antalya by 243%, average housing square meter sales price 16 thousand 430 TL, average housing sales price 1 million 971 thousand 600 TL.

Number of first-hand residential sales decreased by 9%

The number of first hand residential sales across Turkey was 39 thousand 25 in August, down 9% compared to the same month of the previous year. In total housing sales, the share of first-hand housing sales was 32%. First-hand housing sales in the January-August period amounted to 276 thousand 164, an increase of 14% compared to the same period of the previous year. Second-hand housing sales decreased by 15% in August compared to the same month of the previous year to 84 thousand 466. In total housing sales, the share of second-hand housing sales was 68%. Second-hand housing sales in the January-August period amounted to 667 thousand 627, an increase of 20% compared to the same period of the previous year.

Sale of housing to foreigners 5 thousand 273

Residential sales to foreigners decreased by 10% in August compared to the same month of the previous year and amounted to 5,273. In August, the share of housing sales to foreigners was 4% in total housing sales. Antalya took the first place in housing sales to foreigners with the sale of one thousand 814 houses. Istanbul was followed by Mersin with the sale of 317 houses, respectively, with the sale of one thousand 750 houses in Antalya.

Görkem Öğüt, Co-Founder and General Manager of Endeksa, who evaluated the data, said, “Although the January-August period declined in July and August compared to the same months last year, we see that the number of housing sales increased by 18% compared to the same period last year. The reasons for sales in the last 2 months below last year are the expectation of a fall in prices in the market and the adjustments made regarding housing loans. Although the rise in value in housing prices has cut pace, we see that the increase continues. We will all see together in the coming months how the newly announced social housing project will affect this upward trend,” he said.

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